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ZOOMPASS LEAD PLAINTIFF DEADLINE ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 In Zoompass Holdings, Inc. To Contact The Firm
ZOOMPASS LEAD PLAINTIFF DEADLINE ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 In Zoompass Holdings, Inc. To Contact The Firm.
About this update from Zoompass Holdings Inc
[{"type":"text","content":"\n \n Faruqi & Faruqi, LLP, a leading national securities law firm, reminds \n investors in Zoompass Holdings, Inc. (“Zoompass” or the “Company”) \n (Other OTC:ZPAS) of the July 31, 2017 deadline to seek the role of lead \n plaintiff in a federal securities class action that has been filed \n against the Company.\n \n \n If you invested in Zoompass stock or options between April 24, 2017 \n and May 24, 2017 and would like to discuss your legal rights, click \n here: www.faruqilaw.com/ZPAS. \n There is no cost or obligation to you.\n \n \n You can also contact us by calling Richard Gonnello toll free at \n 877-247-4292 or at 212-983-9330 or by sending an e-mail to [email protected].\n \n \n The lawsuit has been filed in the U.S. District Court for the District \n of New Jersey on behalf of all those who purchased Zoompass securities \n between April 24, 2017 and May 24, 2017 (the “Class Period”). The case, Patel \n v. Zoompass Holdings, Inc. et al, No. 2:17-cv-03831 was filed on May \n 30, 2017.\n \n \n The lawsuit focuses on whether the Company and its executives violated \n federal securities laws by making false and/or misleading statements \n and/or failing to disclose that: (i) Zoompass unlawfully engaged in a \n scheme to promote the Company’s stock; (ii) discovery of the \n aforementioned conduct would subject the Company to heightened \n regulatory scrutiny and potential criminal sanctions; and (iii) as a \n result, Zoompass’ public statements were materially false and misleading.\n \n \n Specifically, on May 9, 2017, the Company disclosed that it had been \n “made aware of and requested by the OTC Markets Group, Inc. to comment \n on recent trading and potential promotional activity.” On this news, \n over the course of three trading days, Zoompass’ share price fell from \n $3.64 on May 9, 2017 to a closing price of $1.97 on May 12, 2017—a $1.67 \n or a 45.89% drop.\n \n \n Then, on May 25, 2017, Seeking Alpha published an article \n alleging that Zoompass had erroneously denied its involvement with a \n scheme designed to promote the Company’s stock. In addition, the article \n alleges that Zoompass had purposely kept hidden the fact that the \n Company’s CEO was involved in a pump-and-dump scheme. On this news, \n ZoompassR...